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Introduction

In: Economic Reforms in the Socialist World

Author

Listed:
  • Stanislaw Gomulka

    (London School of Economics)

  • Yong-Chool Ha

    (Seoul National University)

  • Cae-One Kim

    (Seoul National University)

Abstract

Seven decades have passed since a Soviet-type socialist system appeared on the horizon of the earth. The underlying idea of its founders was to avoid the shortcomings of capitalism, such as unequal distribution, exploitation, and economic egoism, by abolishing private ownership. To this end socialist ownership was married with central planning and management. Initially, the expectations of the founders of the system appeared to be fulfilled as the Soviet economy demonstrated the ability to grow rapidly with massive mobilisation of human and material resources. This strategy of extensive growth was also pursued with considerable success by other East European socialist countries.

Suggested Citation

  • Stanislaw Gomulka & Yong-Chool Ha & Cae-One Kim, 1989. "Introduction," Palgrave Macmillan Books, in: Stanislaw Gomulka & Yong-Chool Ha & Cae-One Kim (ed.), Economic Reforms in the Socialist World, pages 1-8, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-10668-4_1
    DOI: 10.1007/978-1-349-10668-4_1
    as

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